The government will introduce new criteria for real estate appraisals under which costs for cleaning up soil contamination will be reflected in land prices, according to officials of the Land, Infrastructure and Transport Ministry.
Appraisal criteria are being revised for the first time since 1990 in line with a new law, which was enacted in May and is scheduled to take effect Jan. 1, to oblige landowners to clean up soil contamination, the officials said Wednesday.
The criteria will be referred to by appraisers in land and real estate trading.